Spirit Airlines Plans a Vote on Frontier Takeover Next Month

May 12. While Spirit Airlines’ board of directors may think they have a clear path toward the merger with Frontier Airlines, they could face a backlash from shareholders and the Department of Justice (DOJ) on the merger’s merits.

While larger shareholders will decide the fate of the merger vote, both Spirit and Frontier will have a bumpy road ahead, no matter the voting outcome.

To recap, in February Frontier offered to acquire ULCC Spirit in a cash and stock offer that valued Frontier at $2.9 billion. The two airlines agreed and signed a merger agreement that seems explicitly designed to prevent either backing out or accepting offers from any other party.

Source: Simple Flying

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